The increasing dominance of finance starting in the late 1970s/early 1980s in the US and the UK, and somewhat later in other countries, was associated with two fundamental and structural processes generating the contradictions of this phase of development and finally the financial and economic...

This paper analyzes the prologue to the Greek tragedy-in particular, the long period of slow growth after Greece joined the European Union and the short period of very strong growth following its adoption of the euro-and deduces reform proposals. Ultimately, a growth strategy should contain...

This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007-08. Sluggish investment was a key channel through which these losses...